Swiss Voters Shoot Down Government’s Pension-Fund Reform
- Ballot shows 67% against plan that was passed by parliament
- Swiss citizens vote up to four times a year on various issues
Pensioners outside the Opera House in central Zurich.
Photographer: Pascal Mora/BloombergThis article is for subscribers only.
Swiss voters rebuffed a government plan to reform company pension funds, marking the second time this year that a proposal to adapt the country’s retirement system to changed demographics was rejected in a plebiscite.
The bill to increase wage deductions and reduce retirement payouts — in order to cope with higher life expectancy — was supported by just 32.9% of the electorate, according to final government results published on Sunday.